Smith County, Mississippi Housing Market Prices
Smith County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 219% above the Mississippi median Among the 5 most expensive counties in Mississippi$415,000
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Median rent 30% below the Mississippi median Cheaper than 84% of counties in Mississippi$663
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Smith County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $415,000 | $130,069 | $248,835 |
| Price Trend (Annual %) | 110.8% | 5.6% | 7.5% |
| Median Gross Rent | $663 | $954 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Smith County is about 219% higher than in Mississippi. Rent is about 30% lower than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Smith County, up about 110.8% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Smith County rose about 12.0% between 2015 and 2024, from $592 to $663. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 6.7 yearly household incomes in Smith County.
Buying the median-priced home in Smith County costs roughly 52.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Smith County. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Smith County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $415,000 | $130,069 | $248,835 |
| Median Household Income | $62,346 | $56,669 | $80,455 |
| Price-to-Income Ratio | 6.7 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Smith County rose about 1000.0%, while median household income rose about 40.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Smith County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.8% | 59.8% | 58.5% |
| Rental Rate | 10.5% | 25.6% | 31.2% |
| Vacancy Rate | 16.7% | 14.6% | 10.2% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Smith County has a homeownership rate of 72.8%, higher than the Mississippi average of 59.8%. Its housing vacancy rate is 16.7%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Smith County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1988 | 1986 | 1978 |
| Median Number of Rooms | 6.4 | 5.7 | 5.5 |
The typical housing unit in Smith County was built around 1988. On average, 2.5 people live in a home with about 6.4 rooms, staying for about 19.0 years on average.
Smith County, MS Housing Compared With Nearby Counties
How Smith County, MS compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Smith County, MS | 14,132 | $415,000 #1/3 | $663 #3/3 | 87.4% #1/3 |
| Scott County, MS | 27,718 | $34,321 | $887 | 71.3% |
| Rankin County, MS | 158,854 | $125,446 | $1,270 | 76.8% |
Frequently Asked Questions
Common questions about the housing market in Smith County, Mississippi.
What is the median home price in Smith County, Mississippi?
The median home price in Smith County, Mississippi is $415,000, higher than the Mississippi average of $130,069.
What is the average home price in Smith County, Mississippi?
The typical home price in Smith County, Mississippi, reported as the median sale price, is $415,000. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Smith County, Mississippi?
The median gross rent in Smith County, Mississippi is $663 per month, lower than the Mississippi average of $954.
What was the median gross rent in Smith County in 2020?
In 2020, the median gross rent in Smith County, Mississippi was $575 per month.
What is the price-to-rent ratio in Smith County, Mississippi?
The price-to-rent ratio in Smith County, Mississippi is about 52.1, meaning it would take roughly 52.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Smith County.
Are home prices or rent rising faster in Smith County, Mississippi?
Both home prices and rent are rising in Smith County, up about 110.8% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Smith County, Mississippi?
72.8% of households in Smith County, Mississippi own their home, higher than the Mississippi average of 59.8%.
What is the vacancy rate in Smith County, Mississippi?
The housing vacancy rate in Smith County, Mississippi is 16.7%, higher than the Mississippi average of 14.6%.
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